Letter: Is Bank Transfer Day Just About Fees?
BofA announced that it will not begin charging the $5 per month fee for using debit cards. I heard on the news this morning that the consumer won a big battle. Good for us! But good the credit union movement?
Yes, I believe consumers are better off with a credit union than a bank. But if we allow the banks to create our mantra (no big fees here), then are we really the masters of our own destiny? Is that what we want the average Joe and Jane who know little about us to understand? That we just don’t charge the big fees like the big banks? Is that enough reason to change financial institutions? I don’t think that has enough oomph.